Pit 278 Stoger Deposit I forgot about Zone 278 as a source of interim production .
It is fully permitted ( as is the Gabbro ) , has an excellent grade and less than a km or so from the mill.
I mentioned this to Mac earlier and he said that Zone 278 needed a bit more closely spaced holes ( grade Control ) so
that the stock works veins would be more precisely located within the pit.
The Gabbro zone needs additional definition drilling ( typical of the Signal CEO ) .
Stoger has good extensional targets, so it is planned to be drilled this year as soon as funds are received, as part of the additional ounces for the updated FS.
However, it's possible that with 1500 m or so of grade control drilling, Zone 278 could be going through the Pine Cove mill as part of the contribution to interim production.
20,000 ounces represents over $60 million cad in revenues and probably $30 million or so in free cash flows net to the balance sheet.
So, we are in very good shape..
Table 1: 2022 Stog'er Tight Mineral Reserve Statement - Effective Date: September 30, 2022
Category | Classification | Tonnes | Gold Grade (g/t) | Contained Ounces |
Gabbro Zone | Probable | 486,000 | 1.65 | 25,800 |
278 Zone | Probable | 240,600 | 2.63 | 20,300 |
Total | | 726,600 | 1.97 | 46,100 |
Notes on the 2022 Stog'er Tight Mineral Reserves